Thursday, August 5, 2010

Initial Jobless Claims Jump 19,000 to 479,000

Confounding Ben Bernanke and the Keynesians, it is still very ugly out there.

The number of people applying for initial unemployment benefits climbed by 19,000 to 479,000 in the latest week, the Labor Department reports. The four-week average of initial claims rose by 5,250 to 453,250.

Keynesian mainstream economists surveyed by MarketWatch expected claims to drop.

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